The Greenback rises from oversold levels awaiting Fed official speeches this week

Daily Currency Update

USD - United States DollarThe U.S. dollar index rises 0.22 percent from oversold levels seen last week, and the EUR/USD pair falls 0.06 percent (stronger U.S. dollar). Later today, September U.S. factory orders will be published and San Francisco Fed President Mary Daly will speak in New York. The "risk-on" environment continues being fed by positive news. Commerce Secretary Wilbur Ross said, "…there's no natural reason," a phase one trade deal between the U.S. and China could not be signed this month. He added that the U.S. might not need to place tariffs on imported automobiles after "good conversations" with manufacturers in the European Union, Japan, and other countries. Since the announcement of the phase one deal on Oct. 11th, the S&P 500 has rallied by more than 4 percent, and it continues setting record high closes. Safe haven currencies are losing this morning such as the Yen, which is losing around 0.3 percent against the Greenback. Goldman Sachs research analysts said in a note on Sunday evening that they now believe, "…tariffs on imports from China have likely peaked" and they are shifting their view thanks to, "…recent developments and apparent progress in US-China negotiations."